Nuveen, one of the largest asset managers with over $1.2tn AUM, has closed its first commingled Australian commercial real estate debt strategy with anchor investments of over AU$400M from the Teachers Insurance and Annuity Association of America (TIAA) and Temasek, a global investment company headquartered in Singapore. These commitments are expected to grow via additional investments from other global investors who are currently progressing due diligence.
The strategy is focussing on institutional senior and junior secured real estate loan investments in Australia. It primarily will look to the industrial, logistics and residential sectors, with a selective approach to retail, office and alternatives across major cities in Australia.
The strategy leverages both Nuveen Real Estate’s global debt platform, which currently has over 55 dedicated specialists, and the 60+ team at Nuveen Real Estate in Asia. The strategy is led by Dugald Marr, Head of Debt Australia & New Zealand, together with an experienced team who have a long track record of originating and structuring high-quality loan investments in this market. The team has already secured a large seed loan portfolio and pipeline with the backing of TIAA for the benefit of current and future investors.
You can now read the full press release at the link below
